On September 27, Catalan voters will vote in what has been styled by regional premier Artur Mas as a de facto sovereignty referendum. As polls show pro-independence politicians could win a majority in the election, business leaders say they may go elsewhere if the region was no longer part of Spain.

According to the head of the Bank of Spain, Luis Maria Linde, if Catalonia gained independence, the region would not be able to keep the single currency and its position in the EU would also be under threat.